No Loss Lottery: A hybrid half lottery and half savings account with random large prizes.

The No Loss Lottery is perhaps misnamed.

The project called the No Loss Lottery is perhaps misnamed, and probably should have been named more positively as a Prize Linked Savings Accounts. In fact, it can be argued that perhaps it could have been named a Random Interest Paying Account or abbreviated as RIPA.

The No Loss Lottery is like a lottery and like a savings account...

... but with certain parts of each, selected for their goodness and put together to make something perhaps better than either one.

It’s part Lottery

The No Loss Lottery does have an element of the random big prize being awarded to a lucky winner who purchased a Ticket. Your deposit buys you a chance at winning a monetary prize much bigger then your One Leo.
So in the way it’s like a Lottery.

It’s Part Savings Account

In a No Loss Lottery you buy a ticket with a deposit of one Leo. But you can always get your Leo deposit back by requesting it. So in that way it’s like a Savings Account.

But it’s different from a Lottery

A Lottery does make you buy a ticket every week. But in a No Loss Lottery, as long as you leave your Leo deposited you are automatically entered in every weeks drawing.

And it’s different from a Savings Account

In a Savings account you get paid interest each year, from 0.1% to 2.0% currently at banks. If you deposit your Leo in the No Loss Lottery, your Leo is part of a shared pool of Leo, which is deposited in a DeFi Account paying 60% to 278% interest. But unlike a Savings Account you don’t get paid the interest on your money. You get a chance to win the interest on every bodies money in the pooled account!

Random Interest Payment

In the No Loss Lottery your money is never lost, you deposit it, and leave it in to enter every weeks lottery. You don’t get paid regular teeny tiny interest payments, but you get a chance to win Big, the interest from everyone’s deposits. So it’s randomly awarded interest payments.

The No Loss Lottery is a Hybrid of a Savings Account and a Lottery.

The No Loss Lottery combines the Money Safety aspect of a Savings Account, with the Large Prize aspect of a lottery.

Prize Linked Savings Accounts Exist Around the world

According to Wikipedia:

Around the world[edit]
Prize-linked savings accounts have been offered in Argentina, Brazil, Colombia, Germany, Indonesia, Iran, Japan, Mexico, Oman, Pakistan, Spain, South Africa, Sri Lanka, Turkey, United Arab Emirates and Venezuela.[17][18] In South Africa, the First National Bank created a program called the Million a Month Account (MAMA), aimed at increasing savings accounts among unbanked people. It was later closed after the state-run lottery sued them for infringing upon their monopoly.[19]
In Iran, PLSAs are the most common form of savings account available to the public, as they are viewed to be in compliance with Islamic law which forbids one to earn guaranteed interest on assets.[citation needed] See Islamic banking

Source

How do you enter?

First, Send one Leo or more, to @nolosslottery

Second, you will be assigned a number.

Third, the list of entrants is published daily.

Fourth, a Google random number generator is used to pick the winner.

Fifth, the winner’s name and number is published weekly.

Sixth, You are entered into the lottery every week as long as you leave your Leo there.

Seventh, the creator of No Loss Lottery @shortsegments has deposited a Reserve, an amount of Leo which generates interest, but for which there are no assigned numbers, so it doesn’t compete for prizes.

Eight, you may request your Leo back the day after the Lottery. But I suggest you leave it in, to qualify for the next lottery. Expect 1-2 days, although I will try to provide same day service.

Last words... win, win-win and when?

It combines the financial #win of a savings account with the emotional #win of a monetary prize.

It’s both a financial #Win and an emotional #win.

It’s a #Win-Win.

But you have to Enter to #Win!

So #When are you going to enter, so you get to #Win?

Soon?

😂😅😂

🦁

@shortsegments

✍️ by @shortsegments

Shortsegments is a writer focused on cryptocurrency, the blockchain, non-fungible digital tokens or NFTs, and decentralized finance, where finance meets technology.

Update Article one

[No Loss Lottery Road Map](https://leofinance.io/@shortsegments